Nordic American Tankers (NYSE:NAT) Sets New 52-Week High – Still a Buy?

Nordic American Tankers Limited (NYSE:NAT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $4.23 and last traded at $4.1450, with a volume of 475462 shares. The stock had previously closed at $4.06.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Evercore ISI increased their target price on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a report on Tuesday, October 28th. Jefferies Financial Group reissued a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nordic American Tankers in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Trading Up 0.4%

The business has a 50 day simple moving average of $3.68 and a two-hundred day simple moving average of $3.35. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.86. The company has a market cap of $862.88 million, a PE ratio of 204.35 and a beta of -0.43.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. The business had revenue of $40.18 million during the quarter, compared to analysts’ expectations of $52.89 million. On average, analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 12.8%. The ex-dividend date was Monday, December 8th. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.10. Nordic American Tankers’s payout ratio is currently 2,600.00%.

Hedge Funds Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Nordic American Tankers by 269.8% in the 1st quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock valued at $319,000 after purchasing an additional 94,514 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Nordic American Tankers by 298.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock worth $168,000 after buying an additional 51,187 shares during the period. Empowered Funds LLC boosted its holdings in Nordic American Tankers by 8.9% in the first quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock valued at $546,000 after acquiring an additional 18,222 shares during the last quarter. Jane Street Group LLC grew its position in Nordic American Tankers by 22.6% during the first quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock valued at $1,054,000 after acquiring an additional 78,948 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Nordic American Tankers by 48.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 37,436 shares of the shipping company’s stock valued at $101,000 after acquiring an additional 12,178 shares during the period. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.